Verizon Communications (NYSE:VZ) Trading Up 2.1% – Should You Buy?

Verizon Communications Inc. (NYSE:VZ) shares traded up 2.1% during trading on Monday . The company traded as high as $47.36 and last traded at $47.05. 12,867,677 shares traded hands during trading, a decline of 28% from the average session volume of 17,821,518 shares. The stock had previously closed at $46.06.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VZ shares. StockNews.com upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Wolfe Research raised their target price on shares of Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada reduced their price target on shares of Verizon Communications from $46.00 to $42.00 in a report on Friday, January 24th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price for the company. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.11.

Verizon Communications Stock Performance

The stock’s fifty day moving average price is $40.61 and its two-hundred day moving average price is $41.84. The company has a market cap of $195.94 billion, a P/E ratio of 11.24, a P/E/G ratio of 4.45 and a beta of 0.41. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period last year, the company posted $1.08 earnings per share. As a group, equities analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a $0.6775 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 5.82%. Verizon Communications’s dividend payout ratio (DPR) is currently 65.46%.

Insider Activity at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 11,085 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of the transaction, the chief executive officer now directly owns 14,590 shares in the company, valued at approximately $596,439.20. This trade represents a 43.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vandana Venkatesh sold 10,000 shares of Verizon Communications stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the sale, the executive vice president now directly owns 14,459 shares in the company, valued at $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Verizon Communications

Large investors have recently modified their holdings of the business. NCM Capital Management LLC raised its position in Verizon Communications by 1.4% during the 4th quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier’s stock worth $735,000 after purchasing an additional 245 shares during the last quarter. First Personal Financial Services raised its position in shares of Verizon Communications by 0.3% during the third quarter. First Personal Financial Services now owns 91,092 shares of the cell phone carrier’s stock worth $4,091,000 after acquiring an additional 250 shares during the last quarter. Encompass Wealth Advisors LLC lifted its stake in shares of Verizon Communications by 2.0% in the third quarter. Encompass Wealth Advisors LLC now owns 12,505 shares of the cell phone carrier’s stock worth $562,000 after acquiring an additional 250 shares during the period. Kirtland Hills Capital Management LLC boosted its holdings in Verizon Communications by 2.4% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock valued at $439,000 after acquiring an additional 252 shares during the last quarter. Finally, First Dallas Securities Inc. increased its position in Verizon Communications by 0.8% during the 3rd quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock valued at $1,425,000 after purchasing an additional 257 shares during the period. Institutional investors own 62.06% of the company’s stock.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).